In this paper, properties of the alkaline electrolyser fed from the voltage source, producing the rectangular pulse train, were investigated. A model of this electrolyser for SPICE in the form of an electrical network was proposed. The structure of this electrical model was described, and the values of parameters of the model were presented. The correctness of this model was verified experimentally in a wide range of frequency. Using the worked out model, several characteristics of the electrolyser were calculated, and the influence of amplitude, frequency, and the duty factor of the supplying voltage on productivity and watt-hour efficiency of the electrolysis process was discussed. The investigations were performed for 2 different concentration values of the KOH solution.